President Olusegun Obasanjo has issued an order for the immediate dissolution of the national utility, the National Electric Power Authority (NEPA), according to reports from the country.

The move follows National Council on Privatisation (NCP) approval for the set up of an initial holding company to take over the company’s assets. The transfer is expected to be completed by 1 July. NCP is responsible for the privatisation of state-owned companies and has unbundled the utility into a transmission company, six generation firms and 11 distribution firms.